
Life in Crypto After FTX
What Goes Up
Decentralized Exchanges and Finances - Is DeFi a Good Idea?
I think DeFi will benefit tremendously. There is an argument to make that the flaw of FTX was that it wasn't crypto enough. If investors did hold their own keys, if those loans were really collateralized and over collateralized in a way people could see, you wouldn't have these blowups. And I think Tera Loon is a good example of that. Technically, a DeFi project, but Doquan and Terraform Labs were basically in control of it. So when it blew up,. there was no hauling of withdrawals, there was no bankruptcy. But you got your coins out at sort of pennies on the dollar of what they were a week ago
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